Liability Insurance Plans

Most businesses need liability insurance cover these days. It is an essential tool for small businesses and global corporations alike to manage risks. It protects you against accidental injury and property damage claims from your customers, visitors or people you visit.

Why do you need liability insurance?

Liability claims can happen to anyone. While you do your best to get everything right, a minor slip-up or accident can lead to claims running into huge monetary value. If you were ever in a situation that made your company liable to be sued, having liability insurance can give you the protection you need.

What does liability insurance cover?

  • Your legal liability towards damages to a third party in the case of an accidental death, bodily injury or loss of or damage to property.
  • Legal costs and expenses incurred by you with prior consent.

Who can take the policy?

A person who owns or is in control while handling a hazardous substance at the time of accident can take the policy.

  • In the case of a firm, it will be liable to its partners
  • In the case of an association, it will be liable to its members
  • In the case of a company, it will be liable to it directors, secretaries, managers or other officers who are directly in charge of, and is responsible to the company for the conduct of the business of the company.

What liability insurance does not cover?

The policy does not cover liability arising from:

  • Willful or intentional non-compliance of any legal provisions
  • Damage to property owned, leased or hired or under hire purchase or on loan to the insured or otherwise in the insured owner's control, care or custody.
  • Direct or indirect consequence of war, invasion, civil war, revolution, rebellion, insurrection or military or usurped power
  • Direct or indirect result of:
    • Ionizing radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel.
    • The radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof.

Why Policy Bazaar?

We compare quotes from leading insurance companies in India so you can be assured that you can find the liability insurance that suits your requirements the best. Find out how much you can save on liability insurance for your business by comparing and buying plans from PolicyBazaar. Simply enter your details on our easy-to-use application form and start comparing!

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